Question 2 The data of average productivity for each number of workers for a firm are given in the table below. Table 2 Average productivity Total product Marginal product Number of workers 2 3. 4 10 12 11 6 10 a) Complete the table by calculating the Total Product of Labor and Marginal Product of Labor corresponding to each number of workers. b) At which number workers does the Law of Diminishing Marginal Returns start working and why? c) Differentiate between economies of scale and return to scales?

Question 2 The data of average productivity for each number of workers for a firm are given in the table below. Table 2 Average productivity Total product Marginal product Number of workers 2 3. 4 10 12 11 6 10 a) Complete the table by calculating the Total Product of Labor and Marginal Product of Labor corresponding to each number of workers. b) At which number workers does the Law of Diminishing Marginal Returns start working and why? c) Differentiate between economies of scale and return to scales?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 6P

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